Happy Fri-Yay, Traders!
Hope you find value from this post.
If you did, please like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
Bitcoin managed to rebound back into the Horizontal Triangle as the Bulls bought up the dip. Back into range territory (sideways price action).
What's happening next?
Bitcoin going above the 50Day MA (Green MA) and staying above it could signal a breakout to the upside.
Upside breakout price target would be the Red Horizontal Resistance Bar at $44,750 - $46.2K
Downside breakout from this Horizontal Triangle will again re-test the Green Horizontal Support Bar below which could then create a Bearish Descending Triangle.
A creation of a Bearish Descending Triangle could finally signal a capitulation by miners and traders.
The Blue Horizontal Support below will be the "safety net", but a strong downward momentum could make price simply slice through that level like hot knife on butter.
First order of business for the Bulls today is to get above Bitcoin's 50MA.
MACD: Bullish Divergence (since 2nd/3rd Wk of Dec. 2021) has yet to be fulfilled.
Stoch RSI (1Wk TF): Huge upside potential!
Always remember to place your Stop Loss.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Hope you find value from this post.
If you did, please like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
Bitcoin managed to rebound back into the Horizontal Triangle as the Bulls bought up the dip. Back into range territory (sideways price action).
What's happening next?
Bitcoin going above the 50Day MA (Green MA) and staying above it could signal a breakout to the upside.
Upside breakout price target would be the Red Horizontal Resistance Bar at $44,750 - $46.2K
Downside breakout from this Horizontal Triangle will again re-test the Green Horizontal Support Bar below which could then create a Bearish Descending Triangle.
A creation of a Bearish Descending Triangle could finally signal a capitulation by miners and traders.
The Blue Horizontal Support below will be the "safety net", but a strong downward momentum could make price simply slice through that level like hot knife on butter.
First order of business for the Bulls today is to get above Bitcoin's 50MA.
MACD: Bullish Divergence (since 2nd/3rd Wk of Dec. 2021) has yet to be fulfilled.
Stoch RSI (1Wk TF): Huge upside potential!
Always remember to place your Stop Loss.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
